|
Report Date : |
07.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
EVERLITE KOREA CO., LTD. |
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|
|
|
Registered Office : |
206, Noksapyeong-daero, Yongsan-gu, Seoul, Korea 5th Fl.,
Cheonwoo Bldg. 140-861 |
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|
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Country : |
South Korea |
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|
|
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Financials (as on) : |
31.12.2013 |
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|
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Date of Incorporation : |
30.03.2004 |
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Com. Reg. No.: |
106-86-27295 |
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|
|
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Legal Form : |
Co., Ltd by shares |
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Line of Business : |
Wholesale of Synthetic Rubber and Plastics Materials |
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|
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No. of Employees |
10 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
|
Status : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
|
Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
South Korea |
A1 |
A1 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
SOUTH KOREA ECONOMIC OVERVIEW
South Korea over the past four decades has demonstrated incredible growth and global integration to become a high-tech industrialized economy. In the 1960s, GDP per capita was comparable with levels in the poorer countries of Africa and Asia. In 2004, South Korea joined the trillion-dollar club of world economies, and is currently the world's 12th largest economy. Initially, a system of close government and business ties, including directed credit and import restrictions, made this success possible. The government promoted the import of raw materials and technology at the expense of consumer goods, and encouraged savings and investment over consumption. The Asian financial crisis of 1997-98 exposed longstanding weaknesses in South Korea's development model including high debt/equity ratios and massive short-term foreign borrowing. GDP plunged by 6.9% in 1998, and then recovered by 9% in 1999-2000. South Korea adopted numerous economic reforms following the crisis, including greater openness to foreign investment and imports. Growth moderated to about 4% annually between 2003 and 2007. South Korea's export focused economy was hit hard by the 2008 global economic downturn, but quickly rebounded in subsequent years, reaching 6.3% growth in 2010. The US-Korea Free Trade Agreement was ratified by both governments in 2011 and went into effect in March 2012. Throughout 2012 and 2013 the economy experienced sluggish growth because of market slowdowns in the United States, China, and the Eurozone. The administration in 2014 is likely to face the challenge of balancing heavy reliance on exports with developing domestic-oriented sectors, such as services. The South Korean economy's long term challenges include a rapidly aging population, inflexible labor market, dominance of large conglomerates (chaebols), and heavy reliance on exports, which comprise about half of GDP
|
Source
: CIA |
Basic
|
Company Name |
EVERLITE KOREA CO., LTD. (Korean Company Name : “한국에버라이트(주)”) |
|
Registered
Address |
206, Noksapyeong-daero, Yongsan-gu, Seoul, Korea |
|
Building |
5th Fl., Cheonwoo Bldg. |
|
Zip Code |
140-861 |
|
Tel |
+82-2-749-6763 |
|
Fax |
+82-2-749-6764 |
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E-mail |
everlite@chol.com |
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Website |
everlitekr.en.ec21.com |
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Trading Address |
5th Fl., Cheonwoo Bldg., 206, Noksapyeong-daero, Yongsan-gu, Seoul, Korea (New Address System : 5th Fl., Cheonwoo Bldg., 534, Itaewon 2-dong, Yongsan-gu, Seoul, Korea) |
|
Tel |
+82-2-749-6763 |
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Fax |
+82-2-749-6764 |
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Other Address |
|
|
Tel |
|
|
Fax |
|
|
Type |
Export |
|
Industry |
Wholesale of Synthetic Rubber and Plastics Materials |
|
Main Business |
High Density Polyethylene, Phthalic Anhydride,
Plasticizer, SBR, Software Development |
|
Sub Business |
Wholesale of Other Chemical Materials and Chemical
Products |
|
Established
(mm/dd/yyyy) |
03/30/2004 |
The Subject
Company occupies the premises of registered HQ address by leasing base.
Detailed Products
|
Activity |
Detailed
Products (UNSPSC) |
|
Sell |
Polystyrene resin(13111023) |
|
Sell |
High Density Polyethylene HDPE(13102017) |
|
Sell |
Polyvinyl Chloride PVC(13102030) |
|
Sell |
Polypropylene PP(13102022) |
CEO’s
|
Name |
Oh Se-Jin(Stanley J.) |
|
Address |
Suite 104-103,
807, Hannam-dong, Yongsan-gu, Seoul, Korea |
|
Date of Birth |
11/22/1967 |
|
Title |
President
& CEO |
|
Sex |
Male |
|
Nationality |
Korean |
Profiles
|
Capital (KRW) |
150,000,000 |
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|
Employees |
10 |
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Formation |
Co., Ltd by shares |
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Bank Details |
Woori Bank-Hanam
Dong Branch Kookmin Bank |
||||||||||||||||||
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Corporate
Registered No. |
110111-2983983 |
||||||||||||||||||
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Business
Registered No. |
106-86-27295 |
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Permit &
Licenses |
Int’l Trade No.: 30048049 |
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Shareholder
Position |
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Company
History |
03/30/2004
Incorporated as the present name 05/30/2009 Moved to Rm. 501, Hannamdong JY Tower, 739-16, Hannam-dong, Yongsan-gu, Seoul, Korea from 124-7, Itaewon-dong, Yongsan-gu, Seoul, Korea 10/29/2010 Increased capital to 150,000,000 KRW from 100,000,000 KRW 11/24/2011 Moved to the present HQ address from Rm. 501,
Hannamdong JY Tower, 739-16, Hannam-dong, Yongsan-gu, Seoul, Korea |
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|
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Management
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Job
Description |
Title |
Name |
Sex |
Nationality |
Inauguration
Date |
|
President & CEO |
Mr. |
Oh
Se-Jin(Stanley J.) |
Male |
Korean |
02/01/2007 |
|
Director |
M/S. |
Lim Yeom-Soon |
Female |
Korean |
02/01/2007 |
|
Auditor |
Mr. |
Kim Jung-Beom |
Male |
Korean |
02/01/2007 |
|
Year / Unit :
KRW |
Sales |
Assets |
Net Income |
|
2013 |
98,668,055,134 |
12,344,563,150 |
425,142,946 |
|
2012 |
81,503,644,014 |
15,056,289,359 |
458,518,810 |
|
2011 |
|
|
|
|
2010 |
|
|
|
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2009 |
|
|
|
|
2008 |
|
|
|
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2007 |
29,951,000,000 |
4,068,000,000 |
204,000,000 |
|
2006 |
20,304,000,000 |
2,234,000,000 |
150,000,000 |
|
2005 |
13,017,000,000 |
1,796,000,000 |
103,000,000 |
|
2004 |
3,000,000,000 |
|
|
Financial Description
|
Authorized
Capital(KRW) |
400,000,000 |
|
Paid-Up
Capital(KRW) |
150,000,000 |
|
Total Issued
Shares |
30,000 |
|
Balance Sheet |
|||
|
Unit : Korean
Won |
As of
12/31/2013 |
As of
12/31/2012 |
As of
12/31/2011 |
|
Total Assets |
12,344,563,150 |
15,056,289,359 |
|
|
Current Assets |
9,086,026,410 |
11,691,212,660 |
|
|
-Quick Assets |
4,280,449,721 |
4,912,406,397 |
|
|
-Inventories |
4,805,576,689 |
6,778,806,263 |
|
|
Fixed Assets |
3,258,536,740 |
3,365,076,699 |
|
|
-Investment |
3,095,715,354 |
3,142,275,113 |
|
|
-Tangibles |
|
|
|
|
-Intangibles |
162,821,386 |
222,801,586 |
|
|
Total
Liabilities |
8,851,300,220 |
11,988,169,375 |
|
|
Current
Liabilities |
8,021,495,463 |
11,637,301,468 |
|
|
Fixed
Liabilities |
829,804,757 |
350,867,907 |
|
|
Capital Stock |
150,000,000 |
150,000,000 |
|
|
Capital
Surplus |
|
|
|
|
Profit Surplus |
3,343,262,930 |
2,918,119,984 |
|
|
Capital Adjustment |
|
|
|
|
Total Equity |
3,493,262,930 |
3,068,119,984 |
|
|
Liab. &
Shareholder’s Equity |
12,344,563,150 |
15,056,289,359 |
|
|
Current
Liabilities |
8,021,495,463 |
11,637,301,468 |
|
|
Trade Payables |
5,023,265,885 |
8,284,127,748 |
|
|
Account Payables |
- |
15,000,000 |
|
|
Withholdings |
32,007,540 |
20,389,070 |
|
|
VAT Withhold |
- |
1,658,290 |
|
|
Advance Receipts |
571,140,432 |
803,376,001 |
|
|
Accrued Expenses |
733,310,941 |
512,750,359 |
|
|
Accrued Income Tax |
161,770,665 |
- |
|
|
Short-Term Borrowings |
1,500,000,000 |
2,000,000,000 |
|
|
Fixed
Liabilities |
829,804,757 |
350,867,907 |
|
|
Leasehold Deposit Received |
305,000,000 |
350,000,000 |
|
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Provision for Severance & Retirement |
524,804,757 |
867,907 |
|
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Income Statement |
|||
|
Unit : Korean
Won |
As of
12/31/2013 |
As of
12/31/2012 |
As of
12/31/2011 |
|
Sales |
98,668,055,134 |
81,503,644,014 |
|
|
Cost of Sold
Goods |
93,376,488,525 |
76,149,297,877 |
|
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Gross Profit |
5,291,566,609 |
5,354,346,137 |
|
|
Selling &
Admin. Expenses |
4,570,875,300 |
4,759,048,227 |
|
|
Operating
Income |
720,691,309 |
595,297,910 |
|
|
Non-Operating
Income |
1,566,548,704 |
1,260,484,952 |
|
|
Non-Operating
Expenses |
1,591,766,982 |
1,067,054,742 |
|
|
Income Before Taxes |
695,473,031 |
788,728,120 |
|
|
Income Taxes
Expenses |
270,330,085 |
330,209,310 |
|
|
Net Income |
425,142,946 |
458,518,810 |
|
|
Cash Flows |
|||
|
Unit : Korean
Won |
As of
12/31/2013 |
As of
12/31/2012 |
As of
12/31/2011 |
|
Cash Flows from
Operating |
-575,066,651 |
1,956,154,707 |
|
|
-Net Income |
425,142,946 |
458,518,810 |
|
|
-Exp. without
Cash Outflow |
614,743,249 |
51,517,779 |
|
|
-Revenue
without Cash Inflows |
-51,674,777 |
-24,471,272 |
|
|
-Changes in
Asset/ & Liability |
-1,563,278,069 |
1,470,589,390 |
|
|
Cash Flows
from Investing |
75,980,200 |
47,916,000 |
|
|
-Cash Inflow
from Investing |
136,000,000 |
83,916,000 |
|
|
-Cash Outflows
for Investing |
-60,019,800 |
-36,000,000 |
|
|
Cash Flows
from Financing |
-545,000,000 |
350,000,000 |
|
|
-Cash Inflows
from Financing |
- |
350,000,000 |
|
|
-Cash Outflows
from Financing |
-545,000,000 |
- |
|
|
Increase/Decrease
in Cash |
-1,044,086,451 |
2,354,070,707 |
|
|
Cash at the
Beginning of Year |
2,671,547,472 |
317,476,765 |
|
|
Cash at the
End of Year |
1,627,461,021 |
2,671,547,472 |
|
Products,
Technologies, Services Description
|
Main Products
& Services |
PLASTICS
(POLYMERS) HIGH DENSITY
POLYETHYLENE(HDPE) LOW DENSITY
POLYETHYLENE(LDPE) LINEAR LOW
DENSITY POLYETHYLENE(LLDPE) POLYPROPYLENE(PP) POLYPROPYLENE(PP) ETHYLENE VINYL
CHLORIDE(PVC) POLY OXY
METHYLENE(POM) POLY AMIDE
6,66 (NYLON 6,66) POLYPROPYLENE
COMPOUNDS(PP CPD) GENERAL
PURPOSE POLYSTYRENE(HIPS) HIGH IMPACT
POLYSTYRENE(HIPS) ABS & SAN
RESIN POLYESTER CHIP
for BOTTLE & YARN PSF CHEMICALS POLYOL &
TDI 80/20 PLASTICS FILM
(PVC, PET, NYLON) PLASTICS SHEET
(PC, PP, ABS) WHITE OIL
(PARAFFIN OIL) PLASTICIZERS
(DOP, DBP, DINP, DIDP, DOA) PHTHALIC
ANHYDRIDE (PA) MALEIC
ANHYDRIDE (MA) POLYACRYLAMIDE
(PAM) KOH &
K2CO3 PE & PP
WAX RUBBER
(SBR,NBR & BR) ZINC OXIDE TIO2 LABSA OTHERS FISHING
EQUIPMENTS such as NET, WIRE TIRE for CARS
(NEW, USED & RETREATED) BATTERY for
CAR, SHIP & INDUSTRY DENTAL
MATERIALS |
|
Detailed
Products Spec. |
|
|
Technologies
Acquired |
|
Trade Partners &
Competitors
|
Suppliers |
|
|
Customers |
|
|
Competitors |
WOORI P &
C CORPORATION 7TH FL., HIGLO
BLDG., 914-1, DAECHI 4-DONG, GANGNAM-GU, SEOUL, KOREA TEL:+82-2-3432-2800 FAX:+82-2-3432-4695 HANYONG CORPORATION RM. 814,
MILLIANA 2-CHA OFFICETEL, 79-5, GARAKBON-DONG, SONGPA-GU, SEOUL, KOREA TEL:+82-2-3401-9850 FAX:+82-2-3401-9870 JW & Y
CORPORATION RM. 903,
HYODEOK BLDG., 32, EULJIRO 1-GA, JUNG-GU, SEOUL, KOREA TEL:+82-2-773-4062 FAX:+82-2-773-4063 |
Related Parties
(Subsidiaries, Joint-Venture & Affiliates)
|
Affiliates |
|
|
Overseas
Office |
|
|
Liaison Office |
|
|
Overseas
Branch |
|
|
Joint Venture |
|
|
Subsidiary |
|
|
Corporate
Ownership |
|
|
Major
Shareholders |
|
|
Cooperative Enterprise |
-Insured
Company LIG INSURANCE CO., LTD.(110111-0017859) |
Sales by Region
(Activity & Markets)
The subject
exports to Brazil, China, Columbia and Peru.
Court Action
No.
--
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.20 |
|
UK Pound |
1 |
Rs.99.52 |
|
Euro |
1 |
Rs.80.83 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
NIS |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
|
|
56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
|
|
41-55 |
Ba |
Overall
operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
|
-- |
NB |
New Business |
-- |
|
This score serves as a reference to assess SC’s
credit risk and to set the amount of credit to be extended. It is calculated
from a composite of weighted scores obtained from each of the major sections of
this report. The assessed factors and their relative weights (as indicated
through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.